Monthly archives: December 2020

Daily Ferrous Physical Review Dec 28th

Ferrous Market –    Steelbank Inventory: construction steel inventories 2.87 million tonnes, down 3.55% w-o-w. HRC 1.39 million tonnes, up 12.65% w-o-w –    China January to November above scale industry companies net profit 5.74 trillion yuan, up 2.4% y-o-y, up 1.7% compared to January to October. Ferrous and steel pressing down 9.9% y-o-y. –    The flat …

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Iron Ore DCE May Daily Technical Review Dec 25th

Verdict – Short-term neutral. DCE iron ore rejected by 1069.5, the important resistance level. From hourly chart, hourly MACD created gold cross. Slow stochastic KD widened and increase. CCI created new high during the week. Technical signals were indicating potential to create new high. The first support is 1005.0. The first resistance is 1069.5

More iron ore price corrections after stricter trading measures

A total of 770,000 mt of iron ores was traded for the week ended Dec 24, less 7.23% on-week as compared to the trade volume of 770,000 mt recorded last week. Benchmark iron ore prices peaked above $175/mt since the start of the week, but soon dropped as Dalian Commodity Exchange (DCE) imposed stricter measures …

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DCE rebounds despite strict trading restrictions

Iron ore futures rebounded over buoyant market outlook, despite DCE’s tightening of trading limits. The most-traded May iron ore contract on China’s Dalian Commodity Exchange (DCE) rose slightly by 0.93% or RMB 9.50 to RMB 1,036/mt on Thursday. The steel rebar contract on the Shanghai Futures Exchange however, dropped by 0.39% or RMB 17 day-on-day …

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Capesize rates rise on good shipping outlook

Capesize freight rates rose by year-end, due to better physical freight rates supported by firm iron ore prices. The Capesize 5 time charter average then hiked up by $940 day-on-day to $16,409 on Wednesday, amid good traded volume and strong index. The Baltic Dry Index (BDI) followed the upward market movement and rose slightly by …

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